Hornbeck Offshore Reviews TTB Business
Hornbeck Offshore Services, Inc. announced that the Company has retained J.P. Morgan Securities Inc. (JPMorgan) to act as its financial advisor in a thorough review of strategic alternatives for its downstream tug and tank barge (TTB) business. This review will consider possible alternatives available to the company for the TTB business, including: (i) potential further growth by acquisitions, mergers or consolidations; (ii) potential disposition or monetization of all or a portion of the Company's ownership interests in the TTB business; (iii) other potential restructuring transactions involving the use of a master limited partnership ("MLP") structure; or (iv) maintaining the status quo.